Direxion Daily Gold Miners Bull 2X (NUGT)

[ReservedRisk]

Miners try to predict where gold is going to go. When they are wrong like if gold would have stayed up at 1600 for a bit longer miners would've EXPLODED.

The mining sector has been smashed so many times they have a beaten dog's psychology. This IMO is a sign of bottoming(disbelief part of the market cycle).

Once gold holds these gains they rocket. Nothing else makes ANY sense. It's the part of the disbelief psych in the gold miner market imho.



As for the overall market we are definitelytely at the euphoria stage..